v3.22.1
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Apr. 30, 2022
Apr. 30, 2021
Cash flows from operating activities:    
Net loss $ (21,643) $ (37,405)
Adjustments to reconcile net loss to net cash provided by operating activities:    
Share-based compensation 6,898  
Depreciation and amortization 2,533 2,419
Amortization of intangible assets 43,854 34,943
Change in bad debt reserve (320) (293)
(Benefit from) provision for income taxes - non-cash (26,434) (3,355)
Non-cash interest expense 415 335
Fair value adjustment to warrants (10,106)  
Right-of-use asset 2,836 477
Changes in current assets and liabilities, net of effects from acquisitions:    
Accounts receivable 84,107 87,373
Prepaid expenses and other current assets (367) (2,481)
Accounts payable 2,042 2,781
Accrued expenses, including long-term (22,768) (19,422)
Lease liability (3,053) (864)
Deferred revenue (50,112) (24,832)
Net cash provided by operating activities 7,882 39,676
Cash flows from investing activities:    
Purchase of property and equipment (1,613) (386)
Internally developed software - capitalized costs (2,286) (1,494)
Acquisition of Codecademy, net of cash acquired (198,633)  
Net cash used in investing activities (202,532) (1,880)
Cash flows from financing activities:    
Shares repurchased for tax withholding upon vesting of restricted stock-based awarded (309)  
Proceeds from issuance of term loans, net of fees 157,088  
Principal payments on capital lease obligation   (263)
Proceeds from accounts receivable facility, net of borrowings (46,639) (2,876)
Principal payments on Term loans (1,601) (1,300)
Net cash provided by (used in) financing activities 108,539 (4,439)
Effect of exchange rate changes on cash and cash equivalents (2,157) (140)
Net (decrease) increase in cash, cash equivalents and restricted cash (88,268) 33,217
Cash, cash equivalents and restricted cash, beginning of period 168,923 74,443
Cash, cash equivalents and restricted cash, end of period 80,655 107,660
Supplemental disclosure of cash flow information:    
Cash and cash equivalents 75,571 105,004
Restricted cash 5,084 2,656
Cash, cash equivalents and restricted cash, end of period 80,655 107,660
Supplemental disclosure of cash flow information and non-cash investing and financing activities:    
Cash paid for interest 11,272 11,050
Cash paid for income taxes, net of refunds (1,284) 838
Unpaid capital expenditures 260 $ 212
Fair value of shares issued in connection with Codecademy acquisition $ 182,550  

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